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Dec 10, 2012
12/12
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mario monti. >>> good morning and welcome back to "squawk box" here on cnbc. i'm joe kernen along with becky quick. andrew ross sorkin hopefully will be back tomorrow. we'll get an update throughout the show. among the top global market stories this morning, italy's prime minister, mario morety announcing he's going to step down after his country's budget is approved and before his term ends. cnbc's carolin roth is in rome with the latest. and congratulations and hello, carolin. we're always the last to know. >> joe, it's actually been a couple months, but thank you very much. thank you very much. >> how come we haven't seen you? >> we've live in rome today all day because we're covering -- you may not have seen me, absolutely. so we're seeing a big selldown in italian assets today. banking stocks are down to the order of around 5%. and there's a clear negative reaction to the news that mario monti unexpectedly resigned over the weekend. that is after the budget law has been parsed in parliament. at the same time, controversial former prime minister berlusconi
mario monti. >>> good morning and welcome back to "squawk box" here on cnbc. i'm joe kernen along with becky quick. andrew ross sorkin hopefully will be back tomorrow. we'll get an update throughout the show. among the top global market stories this morning, italy's prime minister, mario morety announcing he's going to step down after his country's budget is approved and before his term ends. cnbc's carolin roth is in rome with the latest. and congratulations and hello,...
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Aug 7, 2012
08/12
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so for the government of mario monti clearly a a need for a circuit breaker. he can't squeeze out more money from the real money from the economy in terms of new taxes and we need a break. so the effect of the financial crisis of the high spread on the real economy. basically there will be no pass for the economy in 2012 and the experts say 2013 will be down between 1 and 0.5%. >> thanks for that. >>> let's get a check of how u.s. futures are trading as we head closer to the start of the u.s. session. it's green behind me. the dow jones industrials average implied to open higher by 28 points. nasdaq pointed higher by 16 or so and the s&p 500 trying to add two or three points as well. european markets can give you a sense of the kind of trading we've seen overnight. the ftse 100 is the underperformer down .22%. xetra dax is up .40%. camelback about the same amount. ibex in spain trying to continue the gains up 1% so far this morning. >> meanwhile, we've seen italian yields -- they recovered a lot in the last few trading sessions. but that data is significant he
so for the government of mario monti clearly a a need for a circuit breaker. he can't squeeze out more money from the real money from the economy in terms of new taxes and we need a break. so the effect of the financial crisis of the high spread on the real economy. basically there will be no pass for the economy in 2012 and the experts say 2013 will be down between 1 and 0.5%. >> thanks for that. >>> let's get a check of how u.s. futures are trading as we head closer to the...
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Dec 6, 2012
12/12
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mario monty's government has survived the no confidence vote. looks like the italian government is going to survive. you see italian stocks were down throughout the day. the problem about this, the structure of italian politics makes the country ungovernable. brian, there's 12 political parties in the chamber of deputies. that's the lower house. you get coalitions together and they routinely topple the governments. this has been a problem since world war ii. they've got to gig ofigure out better way to govern the country. >>> we've got huge volume today on apple. it will do 40 million shares, probably twice normal. it went positive earlier in the day on that very good news about doing some production of the mac in the u.s. >> they've got too many and maybe we have too few. somewhere in the middle is the answer. bob pisani, thank you. >>> your top stock story today is -- what else -- apple. it is making a small comeback after hitting a nine-month low earlier today but it's been a run to forget for one of the most owned stocks in the world. it's d
mario monty's government has survived the no confidence vote. looks like the italian government is going to survive. you see italian stocks were down throughout the day. the problem about this, the structure of italian politics makes the country ungovernable. brian, there's 12 political parties in the chamber of deputies. that's the lower house. you get coalitions together and they routinely topple the governments. this has been a problem since world war ii. they've got to gig ofigure out...
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Dec 11, 2012
12/12
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of course, mario monti saying he was going to resign as italy's prime minister. that paves the way for flesh elections to be called in the beginning of next year. yesterday, we saw the negative reaction. sylvia berlusconi wants to make his return on the political scene. today, we saw a bounce back. if you can see see bind me, the bank stocks in italy rerebound, but it's only in the range of .5% to 1% of these names which were down in some cases nearly 10% yesterday. if you take a quick look at european bourses, if that's possible, down near the ftse mib, this is the one selling off somewhere in the range of 3.5% yesterday. today it's adding about .8%. in spain, showing a nice rebound. same attitude listing peripheral debt. we can take a look there. italy and spain seeing prices rise, yields falling to 4.75% and 5.75% respectively. is investor attention returning to spain? here is the thing. italy is the third biggest government debt market in the world. it's the third biggest economy in the eurozone. whatever happens with its political situation could put neighbo
of course, mario monti saying he was going to resign as italy's prime minister. that paves the way for flesh elections to be called in the beginning of next year. yesterday, we saw the negative reaction. sylvia berlusconi wants to make his return on the political scene. today, we saw a bounce back. if you can see see bind me, the bank stocks in italy rerebound, but it's only in the range of .5% to 1% of these names which were down in some cases nearly 10% yesterday. if you take a quick look at...
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Dec 6, 2012
12/12
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monti. this may lead to midterm elections because monti is market friendly you might not end up with a market friendly solution. we thought we'd have elections march/april, there's the prospect it could be a snap election much earlier perhaps in the new year. now the good news is there isn't a huge amount of blowout on the bonds at the short end of the italian markets. the yields are higher but not huge relative to where we've been but on the ten-year italian market you can see we're slightly higher but no great shakes overall. it means the rally in the peripheral bond market we've witnessed in italy and spain has now stalled at this stage. remember we had the auction in spain yesterday and the yields are slightly higher relative to where we've been, they're still relatively depressed. we talk about the problems in europe, i thought it was worth pointing out amidst all the malaise what is happening in germany today an astounding manufacturing german manufacturing orders result from germany u
monti. this may lead to midterm elections because monti is market friendly you might not end up with a market friendly solution. we thought we'd have elections march/april, there's the prospect it could be a snap election much earlier perhaps in the new year. now the good news is there isn't a huge amount of blowout on the bonds at the short end of the italian markets. the yields are higher but not huge relative to where we've been but on the ten-year italian market you can see we're slightly...
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Apr 3, 2012
04/12
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. >> mario monti trying to change the labor reforms. is he playing a high risk game? he says if you don't back me, i'm going to step down. does that concern you that he plays that sort of high risk threat? >> i think he sees it as that the stage in his life, what has he got to lose. he knows what has to be done. he knows they have to liberalize some of their and itity growth policies in italy, so he puts it on the line. if he throws them out, the markets will react adversely. the man is obviously feeling confident when he could tell the spanish to put their house in order. imagine italy behaving like the germans. so he must feel confident he can get some of these reforms through at the end of the day precisely because will is no alternative. >> let's look at the united states for a second. february factory orders are out at 10:00 a.m. forecast to rise 1.5%. at 2:00, minutes from last month's fed meeting. so people will be watching for comments out of that. automakers also reporting march u.s. sales this afternoon. it's expected to be another strong month for the indus
. >> mario monti trying to change the labor reforms. is he playing a high risk game? he says if you don't back me, i'm going to step down. does that concern you that he plays that sort of high risk threat? >> i think he sees it as that the stage in his life, what has he got to lose. he knows what has to be done. he knows they have to liberalize some of their and itity growth policies in italy, so he puts it on the line. if he throws them out, the markets will react adversely. the...
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Feb 23, 2012
02/12
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mario monti is desperate to get some growth plans going at a european level. if they are doing better, they are more less likely to want to play ball. >> i mean, i'm not a political analyst, but you could call this both ways. hopefully they'll be more generous in terms of the conditions they impose on their neighbors, et cetera. so it's difficult, really, to plot this one out. i think at the end of the day the whole situation has to do with wages. german wages over the last decade have been pretty static in real terms. in the other countries they've been rising rapidly and it's that adjustment really i think is a resolution. so it's going to be painful one way or another. >> okay. thank you very much indeed for that. plenty more to come from you. the chief economist at ifo saying higher oil prices may pose a risk as well as the auto sector. the ought tauto sector is one h talking about. on the dow jones s ittoxx 600 w are now up for the session high, post that ifo 0 number. after losses in the last two sessions the ftse 100 is up half a percent. it was down 0.
mario monti is desperate to get some growth plans going at a european level. if they are doing better, they are more less likely to want to play ball. >> i mean, i'm not a political analyst, but you could call this both ways. hopefully they'll be more generous in terms of the conditions they impose on their neighbors, et cetera. so it's difficult, really, to plot this one out. i think at the end of the day the whole situation has to do with wages. german wages over the last decade have...
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Dec 13, 2012
12/12
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monti, and his management of the current economic crisis. after decades in italian politics, this 76-year-old businessman appears rested and ready for a fight. tan and fit not and a gray hair on his head. he's not without troubles of his own. he's appeals a kwixz for tax evasion and on trial for allegedly having sex with a minor, a now of age moroccan dancer known as ruby, the heartbreaker. belusconi is in and monti will soon be out. he's step down as soon as parliament passes its 2013 budget. stepping down doesn't mean he's stepping out. many here speculate he's simply preparing to take off his mental and don that of a politician and run himself for the premiership in elections early next year. monti's policies of tax increases and spending cuts have sparked widespread protests, but many other italians think such tough measures were unavoidable says this professor. >> while there is concern, while there is resentment, while there is worry about future, i think there is a rather widespread agreement that what monti did was absolutely necessa
monti, and his management of the current economic crisis. after decades in italian politics, this 76-year-old businessman appears rested and ready for a fight. tan and fit not and a gray hair on his head. he's not without troubles of his own. he's appeals a kwixz for tax evasion and on trial for allegedly having sex with a minor, a now of age moroccan dancer known as ruby, the heartbreaker. belusconi is in and monti will soon be out. he's step down as soon as parliament passes its 2013 budget....
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Sep 10, 2012
09/12
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we've heard an i don't know if you had a chance to earlier the comments from mario monti. everybody got very excited last week that there was a plan and now people are a little less excited. how does that impact your sense of where the global markets will be and therefore what will happen to the u.s. equities? >> i think cause people to say, yes, it's nice it went up so nicely, but stale lot of hurdles ahead. >> so what's the down side look like? >> i would tend to say we're still looking at the low he 1400s as a support level. so we still have a lot of support levels out there that could help support the stock market at this will point. >> is he super mario or is he not? >> i have to say, i'm not surprised that we've kind of seen this again. this has been what's happened, policymakers announce something, there's an initial positive market reaction and then the rethink when we actually consider what we know or what we actually don't know. we've had concern obviously about the bond buying plan in terms of the fact that what it really does is remove the market's ability to k
we've heard an i don't know if you had a chance to earlier the comments from mario monti. everybody got very excited last week that there was a plan and now people are a little less excited. how does that impact your sense of where the global markets will be and therefore what will happen to the u.s. equities? >> i think cause people to say, yes, it's nice it went up so nicely, but stale lot of hurdles ahead. >> so what's the down side look like? >> i would tend to say we're...
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Dec 27, 2012
12/12
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in europe, all about mario monty, kicked off on friday when he resigned. he then said on sunday he'd work with coalition partners. on monday he laid out what he'd like his agenda to be. today, he is negotiating with other potential allies. two big questions come out. one of, what will the clash with silvio berlusconi be? he said his economy was crippled and said the right would abolish property tax rises. the second more interesting question is whether or not monty in the game means the election result in february will be a less strong coalition to enact reform, which is clearly where we hope they will go as in keeping -- trying to keep the investor sentiment going. in rome, they actually auctioned 12 euros of bills. all the politics with berlusconi not really affecting the market. yields are low, confidence still in there. some italian banks rose on the back of that. not huge moves. you can see bpms, up 2.2%. in the center of europe where it was concentrated, other banks moved higher. i'll show you those, lloyds, in the netherlands. and one is a bank here
in europe, all about mario monty, kicked off on friday when he resigned. he then said on sunday he'd work with coalition partners. on monday he laid out what he'd like his agenda to be. today, he is negotiating with other potential allies. two big questions come out. one of, what will the clash with silvio berlusconi be? he said his economy was crippled and said the right would abolish property tax rises. the second more interesting question is whether or not monty in the game means the...
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May 20, 2012
05/12
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italy's prime minister, mario monti will be leaving the summit a day early. due to an earthquake that occurred in italy and due to a teenager who was killed in a bomb blast. that's of course two separate incidents there. so he returning to his country. and of course he's newly-elected. newly-elected leaders who who would have been part of the talks, so it's certainly a big development. >> as we talk about newly elected leaders, let's talk about the french president, frar choice hollande, who the president is meeting the first time around to learn about the interests of where france will be going under his leadership. one thing is the eurozone, and also the discussions that he ran and got elected for, saying he wants early troop withdrawals. how is that going to play out obviously being a disappointment to president obama if those troops leave early? >> absolutely. it's an important point. and president obama met for the very first time with hollande at the white house on friday, this is france's newly elected socialist president. what came out of the meeting,
italy's prime minister, mario monti will be leaving the summit a day early. due to an earthquake that occurred in italy and due to a teenager who was killed in a bomb blast. that's of course two separate incidents there. so he returning to his country. and of course he's newly-elected. newly-elected leaders who who would have been part of the talks, so it's certainly a big development. >> as we talk about newly elected leaders, let's talk about the french president, frar choice hollande,...
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Dec 11, 2012
12/12
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monti. greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier election in italy. to that end it is fascinating. sylvia berlusconi has come out today warning about the germano center of politics. in other words, too much of a focus on what is happening from germany and the austerity inspired by angela merkel. in particular, he is drawing attention to this. which is the spread of the extra that investors demand to hold italian bonds over german bonds. i've shown this to you a couple times. over the last year it's been a mainstay of a lot of the italian business broadca
monti. greece is higher. por sh gal is higher. spain is higher. it's a good day for -- investor sentiment.strongly it was revealed today. optimism over what the fed is going to do in the united states tomorrow. optimism there will be a deal on the fiscal cliff. you have optimism that the recapitalization of the banks is going to be delayed by another year according to the bank of italy. and you have optimism as well on mar of election promises as we now face the pros wekt of a much earlier...
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Aug 27, 2012
08/12
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actually, angela merkel meets mario monti on wednesday. we had the french and german finance ministers meeting today. they say they're going to set up working groups to move toward suggestions for greater currency and fiscal union. of course, over the weekend angela merkel was trying to knock back some of those more vocal anti-greece proponents within her own coalition. you also have the head of the bund bank saying bond buying was a drug people could get fixed on. you could still go forward with bond buying by the ecb with germany in the minority as it's happened all the way through. >> talking to kelly about this. potential for more tape bombs, quote, unquote, from europe this week? >> yeah. you're going to get more of that. there's obviously all the working committees within the ecb coming out with proposals. you can get that coming from anywhere at any time. they may be conflicting because no judgment will be made until the 6th. when the ecb meeting is held. and when merkel also meets the spanish prime minister the same day in madrid.
actually, angela merkel meets mario monti on wednesday. we had the french and german finance ministers meeting today. they say they're going to set up working groups to move toward suggestions for greater currency and fiscal union. of course, over the weekend angela merkel was trying to knock back some of those more vocal anti-greece proponents within her own coalition. you also have the head of the bund bank saying bond buying was a drug people could get fixed on. you could still go forward...